The 19 target-price cuts after Korea's Q3 results, one by one. HD Hyundai Electric took five, LG Innotek the deepest
Of 56 post-results reports we could compare with the same broker's earlier target, 19 were cuts on 11 companies, averaging −19.4%. The deepest: Kiwoom on LG Innotek, from 1,100,000 to 600,000 won. All kept a Buy rating.
AI-assisted, human-reviewed sourcing. Figures are pulled programmatically from the official sources listed at the end of this article and checked by an editor before publication.
hd hyundai electric target pricelg innotek target pricesamsung heavy industries target pricehanwha aerospace target pricekorean stocks target price cutkorea q3 earnings 2026
After the third-quarter results of 26–29 October, Korean brokers published 138 reports on the 24 companies that had reported. In 56 of them we could see the same broker’s previous target in our archive. 19 were cuts. Five were raises (the full count).
Here are the 19.
Every cut
| Company | Broker | Before (won) | After (won) | Change |
|---|---|---|---|---|
| LG Innotek | Kiwoom Securities | 1,100,000 | 600,000 | −45.5% |
| Samsung Electro-Mechanics | Hana Securities | 3,000,000 | 2,000,000 | −33.3% |
| HD Hyundai Electric | Daishin Securities | 1,020,000 | 720,000 | −29.4% |
| Samsung Heavy Industries | Mirae Asset Securities | 33,000 | 24,000 | −27.3% |
| Hanwha Aerospace | Mirae Asset Securities | 1,550,000 | 1,150,000 | −25.8% |
| LG Innotek | Daishin Securities | 920,000 | 700,000 | −23.9% |
| Samsung Electronics | IBK Investment & Securities | 460,000 | 350,000 | −23.9% |
| Samsung Heavy Industries | SK Securities | 35,000 | 27,000 | −22.9% |
| HD Hyundai Electric | Hana Securities | 1,150,000 | 900,000 | −21.7% |
| HD Hyundai Electric | Hanwha Investment & Securities | 1,000,000 | 800,000 | −20.0% |
| SK hynix | IBK Investment & Securities | 4,000,000 | 3,200,000 | −20.0% |
| Hanwha Systems | Yuanta Securities Korea | 136,000 | 109,000 | −19.9% |
| HD Hyundai Electric | Yuanta Securities Korea | 1,165,000 | 940,000 | −19.3% |
| HD Hyundai Electric | Mirae Asset Securities | 1,100,000 | 1,000,000 | −9.1% |
| SK Innovation | Shinhan Securities | 240,000 | 220,000 | −8.3% |
| HD Construction Equipment | Kiwoom Securities | 187,000 | 175,000 | −6.4% |
| SK hynix | Daishin Securities | 3,200,000 | 3,000,000 | −6.3% |
| Shinhan Financial Group | iM Securities | 132,000 | 127,000 | −3.8% |
| Hanwha Systems | Daishin Securities | 98,000 | 96,000 | −2.0% |
The previous targets were set between 28 September and 19 October. The average cut was −19.4%.
HD Hyundai Electric: five of eight
The power-equipment maker reported on Tuesday 27 October. Financial News, citing Shinhan Securities, put its operating profit at 284.5 billion won, about 7% below expectations, with orders of 980 million dollars, down 19% from a year earlier. Eight reports followed on 28 October. Five cut, one held (SK Securities at 650,000), and two came from brokers with no earlier target in our list.
Our list misses at least one more cut. Financial News reported Shinhan Securities going from 1,000,000 to 850,000 won; we hold only the 850,000. Six of eight is therefore the better count, and the gap is a limit of our archive, not of the brokers.
The shares closed at 440,500 won on 29 October. The new targets run from 650,000 to 1,000,000, with a median of 850,000, 1.93 times the price.
Shipbuilding and defence
Samsung Heavy Industries took two cuts of more than a fifth, from Mirae Asset and SK Securities. Hanwha Aerospace took one, from Mirae Asset; the seven other Hanwha Aerospace reports came from brokers with no earlier target in our archive. Both groups have their own target pages: Korean shipbuilding and Korean defence.
A cut is still above the price
Every cut target was still above the company’s 29 October close. The smallest gap among the 19 was iM Securities’ 127,000 won on Shinhan Financial Group, 1.44 times the 88,500 won price. Every cut kept a Buy rating. In Korea, a cut usually means a lower Buy, not a change of view (the rating scale has almost no downside).
Statistics, not advice. This lists published broker targets; it is not a view on any company.
Related: SK hynix after its record quarter · Samsung Electronics after its results · Korean battery stocks’ target prices. More from the same data: Exchange rate in 17 report titles · Which brokers cut and which held in October · Hyundai Rotem targets halved.
Data & Verification Notes
- Data as of
- Sources
- SeoulMarkets broker research archive — Broker reports from Naver Finance's research board and brokers' own websites, collected by SeoulMarkets; file generated 31 October 2026, 07:00 KST, 1,444 reports since 29 June 2026. Each cut compares a report dated after the company's results day with the same broker's previous target in the archive.
- Financial News (fnnews.com), 28 October 2026 — HD Hyundai Electric Q3 2026 operating profit 284.5 billion won, about 7% below market expectations; orders of 980 million dollars, down 19% from a year earlier; Shinhan Securities cut its target from 1,000,000 to 850,000 won.
- Korea Exchange (KRX OPEN API) — Daily closes to 29 October 2026, collected by SeoulMarkets.
- Cross-checks
- 19 cuts on 11 companies after Q3 results, averaging −19.4%. HD Hyundai Electric 5, LG Innotek, Hanwha Systems, Samsung Heavy Industries and SK hynix 2 each.
- Deepest cut: Kiwoom on LG Innotek, 1,100,000 to 600,000 won (−45.5%). Then Hana on Samsung Electro-Mechanics, 3,000,000 to 2,000,000 (−33.3%), and Daishin on HD Hyundai Electric, 1,020,000 to 720,000 (−29.4%).
- All 19 cut reports kept a Buy rating. After the cuts, every one of the 19 targets was still above the 29 Oct close.
- Excluded figures
- Cuts we cannot see. Our archive does not hold every report: Financial News reported Shinhan Securities cutting HD Hyundai Electric from 1,000,000 to 850,000 won, but our list holds only the 850,000, so it is counted as a new target, not a cut.
- Companies that reported on 30 October (Kia, APR, Hyundai E&C, Hyundai Mobis); post-results reports on them were not yet in the archive.
- Why each broker cut. The reports are in Korean; we give the numbers, not the reasoning.
- This is not investment advice.
- Instruments
- 267260, 011070, 010140, 012450, 272210, 009150, 000660, 005930, 096770, 055550, 267270
The full dataset behind these figures — every listed company, every row — is available to license. SeoulMarkets data for licence →
Not investment advice. SMarkets publishes data journalism for general information only. Nothing here is investment advice, a recommendation, or an offer to buy or sell any security — any investment you make is at your own risk and responsibility. Figures are derived from official public data sources and may be revised by the issuing agency. Verify independently before acting.
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